Gurgaon

annual increase in price per sq feet in this city, basis makaan listings

2.99%

Annual Rental Yield

% of property cost that you are likely to recover as rent in 1 year

Property in Gurgaon

: an overview

Gurgaon, a city in Haryana situated towards the southwest of Delhi, is one of the f growing urban are in India. Once a sparsely populated area, Gurgaon today is one of the most prosperous cities in India. Over half of the une 500 companies have offices here. Gurgaon is known as the Singapore of India and Indi Private City. Gurgaon h the highest literacy rate in Haryana, at 84.7 per cent. The per capita income in Gurgaon is the third highest in India. Much of s growth w since its administrative split with neighbouring Faridabad, a city which w once more prosperous and better served by civic infrtructure and transportation networks. Connectivity to Delhi, proximity to the Indira Gandhi International Airport, the formation of Maruti Suzukis manufacturing plant in the late 70s are believed to be major factors behind the growth of Gurgaon. In summers, temperature in Gurgaon often crosses 43 degree Celsius, and in winters, it often averages 3 Degree Celsius at its extreme. The weather in Gurgaon is humid in summer and cold in winter.

InfrtructureGurgaon h Indi first private fire station and Indi first privately financed metro, the rapid metro in Gurgaon that w built by DLF and Infrtructure Leing and Financial Services Limited (IL&FS). Gurgaon h private sewage collectors and private provision of water and electricity. Gurgaon does not have a public citywide sewage system, water system or city-wide public transport networks. But, according to the Ministry of Urban Development, s performance in providing sanitation to its residents is above national standards, and much above that of comparable cities like adjacent Faridabad. Even though power supply often fails in Gurgaon, when compared to the rest of India, its performance is still impressive. Gurgaon h some of the best roads in India, such as the - Expressway. Even though Gurgaon h a metro connectivity, metro lines do not extend to most parts of Gurgaon. The Hero Honda Chowk Flyover is under-construction. The , a highway which is built under a private-public partnership, is under-construction and is likely to be completed in the near future. The is likely to link Gurgaon's rapid metro system with the expressway. The Rapid Metro is likely to extend to the Golf Course Extension Road in the near future. If bus rapid transit becomes operational on the northern peripheral road in Gurgaon, more developable urban land will be available. Real estate prices in Gurgaon are likely to rise when these infrtructure projects are completed.

Homes and livingReal estate prices in Gurgaon have risen much since the 90s. Office space absorption in Gurgaon is among the highest in India. Unlike many other large n cities, the residential real estate markets in Gurgaon tends to be investor driven. Quicker land acquisition, norms favorable to real estate development, availability of large tracts of land are major reons why s real estate industry is strong. Even though property in Gurgaon h become attractive in the pt two decades, in the recent pt, demand h not been high, as it is in other n cities. Housing in Gurgaon is affordable when compared to large cities like Delhi and Mumbai. Sohna Road is an emerging real estate destination which is now known South . When the ongoing and proposed infrtructure projects in Gurgaon are completed, the Dwarka Expressway is likely to be one real estate destination where real estate prices will rise substantially. The Gold Course Road and the Golf Course Extension Road are another two real estate destinations where infrtructure is good and developing. New Gurgaon is an area which is linked to the NH-8, and is well connected to regions like Manesar. Reputed developers are involved in building projects in New Gurgaon.

Real estate and constructionThe Municipal Corporation of Gurgaon collects property taxes in the city. You can pay your property tax online, if you live in Gurgaon. In , house tax is calculated according to the value of the property (annual value of the property if it is rented out), area of the property, whether it is commercial or residential or industrial, and similar factors. There are rebates for defense personnel, former servicemen, war widows, widows of freedom fighters, etc. There are rebates for home owners who pay property tax early. Religious properties are completed exempted from property tax payment. The Stamp Duty is six per cent if the Sale Deed is executed in the name of men, five per cent if executed in the name of women, and five per cent if it is jointly in the name of a man and his female partner.

DemographicsGurgaon once had largely barren, thinly populated land. s population, according to the 2011 Census w 1.5 million people. But, s population w merely 1, 21,000 in 1991 and 8, 70,000 in 2011. The rise in population in Gurgaon in the pt two decades w tremendous. As w once thinly populated, it w not considered an urban area by the n government. Jamshedpur in Jharkhand is the only n city which lacks an urban local authority today, despite having a population over a million, like Gurgaon did, till 2008. Men-women ratio in Gurgaon is much higher than in other n cities, but many attribute this to migration of male professionals to the city.

GovernanceUnlike in many comparable cities, the Municipal Corporation of Gurgaon (MCG) w formed as late as 2008. Gurgaon did not have an active urban local government since it w split from Faridabad. But, even after its formation, the authority of the MCG w limited. The Haryana Urban Development Authority (HUDA) still wields significant power over the city The MCG also builds roads, maintenance of existing roads and sewage systems, building drainage and rainwater harvesting systems, and providing water and electricity supply. MCG provides many services like fire protection though private corporations and large developers have tried to build their own fire protection systems. The Dakshin Haryana Bijli Vitran Nigam provides electricity in Gurgaon, though private production of electricity using diesel generators is quite common. Gurgaon h a government bus service, though the public transportation needs are much higher.

Industry and employmentGurgaon is one of Indi largest industrial and information technology hubs. As many of the worlds major companies have offices in Gurgaon, employment opportunities in Gurgaon are rising. Gurgaon is also a major outsourcing and offshoring hub. Migration of white-collar employees to Gurgaon h raised real estate prices in the city in the pt two decades. With the rising number of jobs, young working professionals from other n states like Uttar Pradesh, Madhya Pradesh and Rajasthan have been moving to Gurgaon. There are also many automobile manufacturing plants in Gurgaon, including that of Hero Honda and Maruti Suzuki. DLF owns large tracts of land in Gurgaon, and this is seen as a major reon behind the citys growth. General Electric, Microsoft, Coca-Cola, IBM and Microsoft have their head offices in India in Gurgaon.

LifestyleGurgaon h dozens of large shopping malls, many large five star hotels, golf courses and outlets of leading fhion brands like Louis Vuitton and Chanel. Gurgaon h many parks like Leisure Valley Park and Netaji Subh Chandra Bose Park, though many of the parks in the city are run by the Haryana Urban Development Authority (HUDA). Mall in Gurgaon is one of the most popular shopping destinations. Manhattan and Vapour are among the popular pubs and brewery in Gurgaon. MGF Megacity Mall, ra Mall, Metropolitan Mall, MGF Mall, Mall, Plaza Mall, Mall and Plaza Mall are the popular malls in the city. Appu Ghar in Gurgaon is another major entertainment avenue. Fort is 92 kms from Gurgaon. Hindi, English, Haryanvi, Punjabi and many other n languages are spoken in Gurgaon.

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